Trump to Meet Trade Advisers Over $70 Billion China Offer

06 June, 2018, 12:56 | Author: Billie Castillo
  • China-US-TRADE-DIPLOMACY

Trump's fellow G7 leaders will use their initial gathering in Charlevoix to confront the US president over his controversial decision to impose punishing tariffs on steel and aluminum imports, senior Canadian officials said Tuesday.

Trade with the U.S.is particularly important to Mexico because about 80% of its exports go to its northern neighbor whereas only around 16% of USA exports come to Mexico.

Powerful US billionaire brothers Charles and David Koch are funding a multi-million dollar campaign against President Donald Trump's trade tariffs. "In the interim, we'll redirect some stuff over to the USA, but in general, we're still going to be making stuff here and shipping it over to the U.S".

Trudeau and Foreign Affairs Minister Chrystia Freeland announced that Canada will impose retaliatory tariffs on US steel and aluminum imports, along with a long list of other USA consumer products ranging from candy and bourbon to mattresses and laundry equipment.

A list of goods that the tariffs will affect will be released by June 15. Mexico is a net importers of USA steel.

Trudeau also faced calls Monday to speed up the imposition of retaliatory tariffs on USA steel and aluminum, but he rebuffed them.

However, Trump has repeatedly said he views the tariffs as being tied to progress on NAFTA talks and those negotiations have been increasingly deadlocked in recent weeks.

Mexico is a huge importer of pork legs and shoulders since they are used in the country's most popular dishes, including tacos and carnitas.

China has warned it would cancel any promises over trade with the US if the Trump administration moves ahead with planned tariffs.

The president of the U.S. National Pork Producers Council, Jim Heimerl, said Mexico accounted for almost 25 percent of all pork shipments a year ago, adding that "a 20 percent tariff eliminates our ability to compete effectively in Mexico".

Pierre Lampron, president of the Dairy Farmers of Canada, sent Trudeau a letter on Monday, demanding a meeting and questioning his support for the dairy industry.

Trump and Macron’s ‘terrible’ phone call
President Donald Trump and other world leaders were just like sausages: better not explain what's inside. The tariffs were first announced in March but several countries received temporary exemptions.

"This is devastating to my family and pork-producing families across the United States", said Heimerl, a pork producer from Johnstown, Ohio. "They move production to the next", he says.

Koch officials cited health reasons for the departure but declined to provide details on the nature of his illness.

In talks in Beijing over the weekend, China offered to buy close to $70 billion in US agriculture, energy and manufacturing products over a year as part of a package meant to ward off USA tariffs, according to a person briefed on the talks with the White House.

But the question of tariffs - as well as the USA decision to pull out of a deal created to curb Iran's nuclear ambitions - is what most G7 members want to sort out.

Tim Phillips, the president of Americans for Prosperity, said the tariffs amounted to "self-imposed barriers" to the $1.5 trillion tax overhaul that Trump signed into law in December.

Washington and Beijing have threatened tit-for-tat tariffs on goods worth up to $150 billion each, as Trump has pushed Beijing to open its economy further and address the United States' large trade deficit with China.

Mexico said yesterday that it will challenge the metal tariffs at the World Trade Organization, following the leads of Canada and the European Union.

The G7 in Charlevoix formally kicks off with a session on jobs of the future and the state of the global economy, which is where Trudeau and others will push Trump to roll back the tariffs, said Canadian government officials who briefed journalists on the condition of anonymity.

Trump suggested last week that NAFTA could be replaced with two separate trade accords, one with Mexico and another with Canada.

"This campaign makes a clear statement: Trade is a major priority for our network".

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